LME prices down but still range-trading; Mega smelter expansion to further widen world surplus

November 30, 2021

ALERT! – ALUMINUM PRODUCTION EXPANSION.

1. LME prices pressured down by macroeconomic headwinds but still stuck within key support and resistance levels ($... per mton range).

2. ALERT! – ALUMINUM PRODUCTION EXPANSION. WORLD MEGA EXPANSION: 2 million mtpy smelting set to widen world surplus.

3. China’s aluminum prices defending key support.

4. CME MW premium financials drop to five-month lows; premium spread tightness eases for 2022.

5. GREEN SPECIAL ANALYSIS. THE ULTIMATE SOLUTION? Carbon capture technology could take decarbonization to the next level and for all smelters.

6. GREEN ALUMINUM ALERT. SUPER GREEN ALLOY WHEELS: Cromodora partners with Raffmetal to develop a low-carbon aluminum alloy and reduce its carbon footprint.

7. LME December–January backwardation intensifies again to $... per mton (bearish P1020 premiums).

More details in full report.

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